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<SEC-DOCUMENT>0000894579-05-000081.txt : 20050323
<SEC-HEADER>0000894579-05-000081.hdr.sgml : 20050323
<ACCEPTANCE-DATETIME>20050323190214
ACCESSION NUMBER:		0000894579-05-000081
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050317
FILED AS OF DATE:		20050323
DATE AS OF CHANGE:		20050323

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACTION PERFORMANCE COMPANIES INC
		CENTRAL INDEX KEY:			0000892147
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-MISC DURABLE GOODS [5090]
		IRS NUMBER:				860704792
		STATE OF INCORPORATION:			AZ
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		1480 SOUTH HOHOKAM DRIVE
		CITY:			TEMPE
		STATE:			AZ
		ZIP:			85281
		BUSINESS PHONE:		6023373700

	MAIL ADDRESS:	
		STREET 1:		1480 SOUTH HOHOKAM DRIVE
		CITY:			TEMPE
		STATE:			AZ
		ZIP:			85281

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TIMON PHILIP C
		CENTRAL INDEX KEY:			0001080175

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11866
		FILM NUMBER:		05700122

	BUSINESS ADDRESS:	
		STREET 1:		920 EAST BALTMORE PIKE
		CITY:			KENNETT SQUARE
		STATE:			PA
		ZIP:			19348
		BUSINESS PHONE:		6103885920

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ENDOWMENT CAPITAL L P
		CENTRAL INDEX KEY:			0001286807

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11866
		FILM NUMBER:		05700123

	BUSINESS ADDRESS:	
		STREET 1:		1007 N ORANGE ST
		STREET 2:		SUITE 757
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			190801
		BUSINESS PHONE:		302-652-6926

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LONG DRIVE L P
		CENTRAL INDEX KEY:			0001286800

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11866
		FILM NUMBER:		05700124

	BUSINESS ADDRESS:	
		STREET 1:		1007 N ORANGE ST
		STREET 2:		SUITE 757
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801
		BUSINESS PHONE:		302-652-6926

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ENDOWMENT CAPITAL GROUP LLC
		CENTRAL INDEX KEY:			0001283815
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11866
		FILM NUMBER:		05700125

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Endowment Management, LLC
		CENTRAL INDEX KEY:			0001297571
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11866
		FILM NUMBER:		05700126

	BUSINESS ADDRESS:	
		STREET 1:		1007 N. ORANGE STREET, SUITE 757
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801
		BUSINESS PHONE:		302-778-3260

	MAIL ADDRESS:	
		STREET 1:		1007 N. ORANGE STREET, SUITE 757
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2005-03-17</periodOfReport>

    <dateOfOriginalSubmission>2005-03-21</dateOfOriginalSubmission>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000892147</issuerCik>
        <issuerName>ACTION PERFORMANCE COMPANIES INC</issuerName>
        <issuerTradingSymbol>ATN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001283815</rptOwnerCik>
            <rptOwnerName>ENDOWMENT CAPITAL GROUP LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1007 N. ORANGE STREET, SUITE 757</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WILMINGTON</rptOwnerCity>
            <rptOwnerState>DE</rptOwnerState>
            <rptOwnerZipCode>19801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001286800</rptOwnerCik>
            <rptOwnerName>LONG DRIVE L P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1007 N. ORANGE STREET, SUITE 757</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WILMINGTON</rptOwnerCity>
            <rptOwnerState>DE</rptOwnerState>
            <rptOwnerZipCode>19801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001286807</rptOwnerCik>
            <rptOwnerName>ENDOWMENT CAPITAL L P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1007 N. ORANGE STREET, SUITE 757</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WILMINGTON</rptOwnerCity>
            <rptOwnerState>DE</rptOwnerState>
            <rptOwnerZipCode>19801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001080175</rptOwnerCik>
            <rptOwnerName>TIMON PHILIP C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1007 N. ORANGE STREET, SUITE 757</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WILMINGTON</rptOwnerCity>
            <rptOwnerState>DE</rptOwnerState>
            <rptOwnerZipCode>19801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001297571</rptOwnerCik>
            <rptOwnerName>Endowment Management, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1007 N. ORANGE STREET, SUITE 757</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WILMINGTON</rptOwnerCity>
            <rptOwnerState>DE</rptOwnerState>
            <rptOwnerZipCode>19801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-03-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>62400</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>14.281</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2028250</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-03-18</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value>E</value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>122890</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.6365</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1905360</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-03-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value>E</value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>60000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.4543</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1845360</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Endowment Capital, L.P. (1,180,392 shares) and Long Drive, L.P. (664,968 shares) (collectively, the &quot;Funds&quot;) directly own the 1,854,360 shares of Common Stock (the &quot;Shares&quot;). Endowment Capital Group, LLC is the sole general partner and Endowment Management, LLC is the sole investment manager of each of the Funds. Philip Timon is the sole managing member of Endowment Capital Group, LLC and Endowment Management, LLC.</footnote>
        <footnote id="F2">By virtue of its position as the sole general partner of the Funds, Endowment Capital Group, LLC may be deemed to be the indirect beneficial owner of the Shares. Nothing in this Form 4 shall be deemed an admission that Endowment Capital Group, LLC is, for purposes of Section 16 of the Securities Act or otherwise, the beneficial owner of any securities reported on this Form 4 in which it does not have a pecuniary interest as calculated pursuant to the rules and regulations promulgated under Section 16 of the Securities Act.</footnote>
        <footnote id="F3">By virtue of its position as the investment manager of the Funds, Endowment Management, LLC may be deemed to be the indirect beneficial owner of the Shares. Nothing in this Form 4 shall be deemed an admission that Endowment Management, LLC is, for purposes of Section 16 of the Securities Act or otherwise, the beneficial owner of any securities reported on this Form 4 in which it does not have a pecuniary interest as calculated pursuant to the rules and regulations promulgated under Section 16 of the Securities Act.</footnote>
        <footnote id="F4">By virtue of his position as the managing member of both Endowment Capital Group, LLC and Endowment Management, LLC, Philip Timon may be deemed to be the indirect beneficial owner of the Shares. Nothing in this Form 4 shall be deemed an admission that Philip Timon is, for purposes of Section 16 of the Securities Act or otherwise, the beneficial owner of any securities reported on this Form 4 in which he does not have a pecuniary interest as calculated pursuant to the rules and regulations promulgated under Section 16 of the Securities Act.</footnote>
    </footnotes>

    <remarks>This filing is a correction of the Form 4 filed by the same reporting persons on March 21, 2005.  Due to a miscommunication between our trading firm and prime broker, the number of shares sold on March 18th, 2005 and listed on the Form 4 filed on March 21, 2005 was incorrectly reported as 113,600.  The correct number of shares should have been 122,890.  This filing represents the correct amount.</remarks>

    <ownerSignature>
        <signatureName>See attached Exhibit 99</signatureName>
        <signatureDate>2005-03-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>form4aattachment.htm
<DESCRIPTION>JOINT FILER INFORMATION
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY VLINK="#800080">

<B><P>EXHIBIT 99</P>
</B>
<B><P ALIGN="CENTER">JOINT FILER INFORMATION</P>
</B>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=590 style="border-collapse: collapse" bordercolor="#111111">
<TR><TD WIDTH="33%" VALIGN="TOP">
<P>Title of Security:</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>Common Stock</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P>Issuer and Ticker Symbol</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>Action Performance Companies, Inc. (ATN)</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P>Designated Filer</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>Endowment Capital Group, LLC</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P>Other Joint Filers</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>Endowment Capital, L.P.</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>Long Drive, L.P.</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>Endowment Management, LLC</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>Philip Timon</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P>Addresses:</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>The principal business office address of each of the<BR>
Joint Filers above is 1105 North Market Street,<BR>
15th Floor, Wilmington, DE 19801.</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P>Signatures:</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>ENDOWMENT CAPITAL, L.P.</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="46%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>By&nbsp;:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>Endowment Capital Group, LLC, as</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>General Partner</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="57%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>By:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>/s/ Philip Timon</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>Name:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>Philip Timon</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>Title:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>Managing Member</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>LONG DRIVE, L.P.</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="57%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>By:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>Endowment Capital Group, LLC, as</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>General Partner</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>By:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>/s/ Philip Timon</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>Name:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>Philip Timon</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>Title:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>Managing Member</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="57%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>ENDOWMENT MANAGEMENT, LLC</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>By:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>/s/ Philip Timon</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>Name:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>Philip Timon</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>Title:</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>Managing Member</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="67%" VALIGN="TOP" COLSPAN=3>
<P>PHILIP TIMON</TD>
</TR>
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<P>/s/ Philip Timon</TD>
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